(RTTNews) - Scribe Therapeutics Inc. (SCTX), a clinical-stage biotechnology company, announced pricing of its upsized initial public offering of 8.58 million shares of its common stock at the high end of the range at a public offering price of $15 per share. In addition to the initial public offering, Scribe has entered into a private placement offering with Sanofi.
Scribe Therapeutics is developing CRISPR-based genetic medicines, and its lead investigational product candidate STX-1150 is designed to reduce low-density lipoprotein cholesterol (LDL-C) by repressing the expression of PCSK9, a clinically validated target associated with cardiovascular disease risk.
Under the IPO, the shares are expected to begin trading on the Nasdaq Global Market on July 24, 2026, under the symbol "SCTX."
The gross proceeds from the offering are expected to be $128.7 million, and the offering is expected to close on July 27, 2026.
In addition, Scribe has granted the underwriters a 30-day option to purchase up to an additional 1.287 million shares at the initial public offering price, less underwriting discounts and commissions.
Leerink Partners, Goldman Sachs & Co. LLC, Guggenheim Securities, and Wells Fargo Securities are acting as joint book-running managers for the offering.
In addition to the IPO, Scribe has agreed to sell 0.5 million shares of its common stock at $15.00 per share in a concurrent private placement to Sanofi. The private placement is also expected to close on July 27, 2026, concurrently with the initial public offering.
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